Transform FNOL Process for the Leading Insurance Provider in CANADA
2023-01-31 08:06:17 | By CodinixCloud
Category : Digital Transformation
About Client:
One of the Leading Insurance Provider in CANADA has to transform their FNOL (First notice of loss) processes.
Problem statement and provided solution is given below:
Problem:
Digital transformation and orchestration of back-office activities, related to claims in General Insurance were required in order to gain efficiency, accuracy, lower Turn Around Time. Failing to do the same is the main cause for low customer-satisfaction and poor customer retention levels for an Insurance Company.
Solution:
The solution covers the main Insurance back-office activities, from the moment a First Notice of Loss (FNOL) intimation is notified for a GI Claim via various media to document collection from various sources, associate scheduling and tracking the status of a claim till closure. We make use of our digital transformation integration tools and cloud-based automation platform to digitize the manual process using OCR and Workflow tool, thus increasing the overall efficiency, accuracy and quality.
The solution contains automated set up process, auto extraction, work scheduling and agent scorecard.
Client Benefits:
The implemented solution led to using our digital transformation services increased associate utilization by 30%, operational efficiency by 40% and accuracy in forecasted volume by 35% which resulted in a good amount of total cost saving for the client.
